The Role of Risk in Consumer Behavior

A descriptive model of the consumer co-production process

“…Consumers may decide to engage in co-production also in order to reduce risks associated with receiving inappropriate products (Taylor 1974;Dowling and Staelin 1994). Perceived risks include physical, financial, psychological, performance, social, and time-related risks (Stone and Gronhaug 1993).…”

The impact of product category knowledge on consumer use of extrinsic cues – A study involving agrifood products

“…Region/country-of-origin, meanwhile, acts as a stereotype with the potential to lend coherence, simplicity and prediction to complex decisions, rather than as a truly objective and reliable cue (Taylor, 1974). While experts may use either stereotype information or product cues, novices rely more on stereotype information (Alba & Hutchinson, 1987).…”

Investigation on the model of consumers’ perceived risk—integrated viewpoint

“…When these risks were too significant, they would influence the consumers' purchasing desire. Taylor (1974) proposed the theory of consumers' perceived risk and indicated that when the consumers were having purchasing decision making, their choice would be affected due to different levels of perception. Besides, different risk levels would generate diverse changes with different products and individuals.…”